Small and Mighty - How small businesses can reinvent downtown San Francisco

The research included a review of academic reports and literature related to small business recovery efforts in San Francisco in the wake of the COVID-19 pandemic. [...] SMALL AND MIGHTY 5 The Pandemic’s Toll on Small Businesses The COVID-19 pandemic was a perfect storm for the financial health of small businesses, which were hit with increased costs due to inflation and workplace safety requirements.1 In addition, many small businesses faced declines in sales due to sheltering in place and the rise of remote and hybrid work, which reduced foot traffic for brick-a. [...] According to the Office of Small Business, more than 5,700 firms have enrolled in the program, which has saved small businesses $2.38 million in fees.23 The program began in 2021 and was recently expanded to all new businesses with gross receipts of up to $5 million and extended to June 30, 2024. [...] Led by the Human Rights Commission, the initiative provides grants to community-based organizations that advance Black entrepreneurship.24 In February 2024, the Office of the Treasurer & Tax Collector and the Office of the Controller released a report recommending the elimination of $10 million in licensing fees, which are disproportionately paid by small businesses, especially restaurants and bar. [...] Adopt the recommendations from the Office of the Controller and the Office of the Treasurer & Tax Collector to eliminate licensing fees and reduce registration fees for small businesses.